During the Past Six Months,73

question 78

Multiple Choice

During the past six months,73.2% of US households purchased sugar.Assume that these expenditures are approximately normally distributed with a mean of $8.22 and a standard deviation of $1.10. Find the probability that a household spent more than $10.00

• A).7320
• B).9474
• C).0526
• D).2680

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Definitions:

Pricing

The act of determining the value that will be charged for goods or services offered by a business.

Gross Profit

The financial gain calculated by subtracting the cost of goods sold from total revenue.

Inventory

The total amount of goods and materials held in stock by a business, shop, or warehouse.

Administrative Expenses

Ongoing expenses associated with the general operation of a business, such as office supplies, salaries of non-sales personnel, and utilities.